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How much/little should I tell my kids about our finanacial situation? My husband just lost his job. The kids are 22,20 and 18 and ALL in college.

Sharon - posted on 04/16/2009 ( 6 moms have responded )

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Nicole - posted on 04/16/2009

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I THINK THEY ARE ALL YOUNG ADULTS AND CAN HANDLE THE SITUATION

Jocelyn - posted on 04/16/2009

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well, i am 21, and i (now) know all about my parents financial sittuation (not good).  i wish they had told me earlier (when i was in high school).  i don't think i would have been so...demanding i guess would be the right word.  ie. i know i resented them because they wouldn't let me join a specific dance school for competitve dance.  i know now that there was no way they could have afforded it.i think you should tell them.

Stef - posted on 04/16/2009

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Your kids are all adults now and should probably be treated as such......but at the end of the day you should follow your instincts and do what feels right. Sorry about your situation, I hope your husband finds work again soon.

Joanna - posted on 04/16/2009

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they are old enough to understand the realitys of life and need to be told the truth by their parents

Mandy - posted on 04/16/2009

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I think that telling them is the best thing to do. If you are financially supporting them then they need to know so they can take steps to secure their futures too (for example taking on extra work themselves). Dropping the information on them with no notice if the situation gets worse will not allow them the time they need get their financial situations on track. They are all adults now and would not be the only ones at college with parents in the same boat.



Best wishes, hope all works out for you soon, Mandy

Roseanne - posted on 04/16/2009

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I come from a family where honesty is best, we've always been told when moneys been tight etc. I learned the value of money from that.

I think you should tell your children.

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